Bitcoin Price Prediction as New CoinShares Report Says BTC Could Hit $140,000 If This One Thing Happens – Here’s What You Need to Know

cryptonews.com:

Despite the buzz around cryptocurrencies’ potential, Bitcoin (BTC), the world’s most valuable cryptocurrency, experienced a setback, slipping below the $37,000 threshold early Wednesday. This downturn coincides with significant industry news: Binance CEO Changpeng Zhao announced his resignation amidst allegations of involvement in money laundering activities, as reported by Iconomicom on Twitter.

This leadership shakeup at one of the largest crypto exchanges has sent ripples through the market, contributing to a 24-hour loss of 2.96 percent, bringing the global crypto market’s value to $1.38 trillion.

Over $200M in crypto futures bets liquidated as #BTC dips below $36K following Binance settlement.

— ICONOMI (@iconomicom) November 22, 2023

Amidst this turbulence, the cryptocurrency market faces a critical juncture. The earlier enthusiasm sparked by the potential approval of a Bitcoin Spot ETF has been tempered by increased regulatory scrutiny in the US.

This update delves into the complex dynamics at play, exploring the potential impact of a Spot Bitcoin ETF approval on institutional investment and the possibility of Bitcoin’s price surging to an unprecedented $140,000, as suggested by a recent CoinShares report.

The global cryptocurrency market has been experiencing a downturn, with prices flashing red, primarily due to a significant leadership change at Binance, one of the world’s largest cryptocurrency exchanges.

This shift follows allegations of money laundering against the company, which have led to a nearly 12% drop in the value of its native token, as highlighted in a recent tweet by Cryptomarkets.

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